RAMCOCEM

Share price: ₹1,037.50 (NSE, close of 28 Nov 2025). 52-week range: Low ₹788.20, High ₹1,209.00 Market-cap: ₹ 24,500–24,600 crore. Key valuation metrics: P/E (TTM) 66×, P/B 3.2–3.3× (book-value/share Share price: ₹1,037.50 (NSE, close of 28 Nov 2025). Recent improvement in profitability / recovery in margins: The Q2 FY26 results show a sharp rebound in PAT along with revenue growth. This suggests that demand/pricing, cost-management or operations have improved — which could indicate a turnaround if sustained. Capacity expansion & future growth potential: The plan to scale cement capacity to 30 MTPA by March 2026 gives a medium-term growth lever. If cement demand recovers (housing, infrastructure, public works), higher capacity may translate into volume and revenue growth. Market recovery and structural demand tailwinds: Given broader infrastructure growth, urbanization, and government push for housing/infrastructure — there is macro support for cement demand. For a company like Ramco, this could be beneficial over medium-term. Some valuation upside (if execution happens): If the company delivers on capacity expansion, volume growth, and better realizations, the current price may embed enough growth expectations. Given the recovery in PAT, there is a possibility of re-rating — but that depends critically on execution and demand environment.